1 Dollar - Charles III Liberty's Majestic Eagle

Cook Islands has issued commemorative dollars under its own authority since the 1970s, a right derived from its status as a self-governing territory in free association with New Zealand. The arrangement gives the islands full capacity to enter into international agreements and issue currency, even though the New Zealand dollar functions as the practical medium of exchange domestically. This particular piece belongs to a wave of large-format bullion-adjacent issues produced for the collector and precious metals market rather than any circulation purpose.

The .999 silver cladding over a bronze core is a cost-reduction technique that allows issuers to market a "silver" product at lower spot exposure.